You are currently browsing the daily archive for June 17th, 2009.
Bough
t this household name today after a lengthy two-week selloff. CCI had risen above -100. RSI was above 50 and volume was heavy as shorts were squeezed out of the stock. Its bouncing off its 50d moving average so given the indicators above I felt this would be a good area for buyers to coming into the stock. Low risk trade with stop below the 50d. My target will be the upper Bolinger Band around $37 then 200d around $38.50
Entered this trade end of last week and just thought I’d follow up to demonstrate my reasons for my entry and how the stock behaved
